Markets are trading lower today, Wednesday, April 29, 2026, as investors brace for an afternoon interest rate decision from the Federal Reserve and a major wave of Big Tech earnings.
Market Snapshot (Approx. 11:10 AM ET)
Index Current Value Change % Change
Dow Jones (.DJI) 48,876.63 -265.30 -0.54%
S&P 500 (.INX) 7,138.68 -0.00 0.00%
Nasdaq (.IXIC) 24,635.78 -28.95 -0.12%
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Key Market Drivers
The Fed & Jerome Powell: The Federal Reserve is widely expected to hold interest rates steady today. However, high drama surrounds Chair Jerome Powell, as the Senate votes today on his successor, Kevin Warsh. Investors are watching closely to see if Powell will step down from the Board of Governors entirely or stay through 2028.
Oil & Geopolitics: Brent crude has surged above $110 per barrel due to the ongoing war with Iran. These rising energy costs are fueling inflation fears and complicating the Fed’s “higher for longer” stance.
Earnings Season:
Winners: Visa (+10%) and Starbucks (+4.6%) jumped after reporting resilient consumer spending despite economic pressures.
Losers: GE Healthcare (-12.3%) and Robinhood (-11.2%) tumbled after missing growth expectations.
Pending: After the closing bell today, “The Big Four”—Microsoft, Amazon, Meta, and Alphabet—are all scheduled to report results.
What to Watch Next
2:00 PM ET: Federal Reserve interest rate announcement.
2:30 PM ET: Jerome Powell’s press conference (likely his final appearance before the transition to Warsh).
4:00 PM ET: Major Tech earnings releases.
